Directors and officers liability Insurance (often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers. Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials as well; in fact, often civil and criminal actions are brought against directors/officers simultaneously.
It has become closely associated with broader management liability insurance, which covers liabilities of the corporation itself as well as the personal liabilities for the directors and officers of the corporation.
For something as critical as D&O liability insurance, it’s crucial to know exactly what is covered, and what is not. Not all plans are equal, by any means. You ought to know exactly what you need, and whether a particular insurer provides it.
We invite you to contact us today to learn more about directors and officers coverage through Foy Insurance. You may fill out the form on the right to be contacted by one of our Foy Insurance professionals, or give us a call to speak now. We look forward to serving you.